Pacific Rubiales delays shareholder vote on sale to end of month

VANCOUVER, July 2 (Reuters) - Pacific Rubiales Energy Corp
said on Thursday it has postponed a shareholder vote on
its planned C$2 billion ($1.6 billion) takeover by Alfa SAB de
CV and Harbour Energy Ltd at the request of the
bidding companies.

The vote, originally set for next week in Vancouver, has
been pushed back to July 28.

A group of shareholders led by O'Hara Administration Co has
launched a proxy battle to try to block the C$6.50 per share
deal, saying it undervalues the company and does not benefit the
shareholders.

The offer from Alfa and Harbour Energy came during difficult
times for Pacific Rubiales, whose shares have plunged 75 percent
over the last year as crude prices fell and the company
struggled under a hefty debt load.

The stock closed up 7 percent at C$5.04 on Thursday on the
Toronto Stock Exchange.
($1 = 1.2539 Canadian dollars)
(Reporting by Julie Gordon; Editing by Leslie Adler)